Sensex dips as caution sets in

Mumbai: Benchmark indices slumped more than 1.25 per cent yielding to weaker global and domestic sentiments over US-China trade war and the uncertain outcome of the Lok Sabha elections.

The Sensex fell for the sixth consecutive session, closing 487.50 points, or 1.27 per cent, down at 37,789.13 while the Nifty-50 closed at 11,359.45, down 138.45 points, or 1.20 per cent.

Intra-day, the Sensex crashed 518.81 points while the Nifty slipped 150.95 points.

The Sensex has fallen 3.27 per cent, or 1,278.20 points, from its April 26 high of 39,067.33 and analysts expect the market to correct further.

Foreign investors were net sellers of equities worth Rs 701.50 crore while the domestic institutional investors were net buyers by Rs 232.95 crore, provisional exchange data showed.

The lacklustre Q4 results have added to lack of investors’ interest along with the higher pledge by promoters.